In Carrboro, working-class condo owners must pay $5,400 fee—in three weeks | Orange County | Indy Week: The fees are intended to generate nearly $1.8 million in funds to repair the long-crumbling apartment complex. Many tenants say previous ownership, which sold the property last summer, neglected to maintain it, leaving behind shabby apartments and dangerous walkways.
A 10-year-old boy tumbled through a deteriorated stairway at the complex on Nov. 24, three days after Collins Crossing owners notified condo owners of their plan to impose assessment fees.
Carrboro officials gave owners 90 days to make repairs. In the meantime, condo owners have to find the cash within three weeks. It's unclear what penalty tenants will face if they don't pay, although Carrboro Mayor Mark Chilton says management could impose a lien on the condos. Some residents fear foreclosure.
Looks like this condo complex has fallen into Tyler Berding's Phase 3 death spiral to the point it resembles an apartment complex with a landlord more than a condo HOA.